A NEW multi-million pound deal is ‘the final piece of the puzzle’ for York developers as they press ahead with ambitions to revitalise the city centre.
The Helmsley Group has purchased yet another key retail unit, bolstering its growing portfolio of properties in Coney Street as part of its commitment to regenerate the high street.
The property investment and development specialist now owns 19 Coney Street - the 50,000 sq ft space currently occupied by Next and Monsoon following its latest acquisition, from NFU Mutual.
A street view of the Next and Monsoon retail unit which the Helmsley Group has acquired in a multi-million pound deal.
Helmsley Group also owns 39-43Coney Street, currently let to Boots and WH Smith, as well as numbers three to seven, housing JD Sports, Lush and Mango.
The company recently unveiled its vision to transform Coney Street into a mixed-use commercial location, with independent retailers thriving alongside hospitality venues, cafes, medical premises and university-led community ventures.
An aerial photo of Coney Street, York, and the Next/ Monsoon retail unit which the Helmsley Group has acquired. Picture: The Helmsley Group
The emerging plans make more of the riverside setting and also include a new public realm, in the hope of encouraging more people to visit Coney Street and linger longer.
Listed buildings could be repurposed and enhanced, while poor quality, rear extensions could be renovated, with potential to bring forgotten upper floors back into use.
Helmsley has been working, in collaboration with City of York Council, on feasibility studies for Coney Street, ready to go public in May and gather feedback, ahead of lodging a planning application.
Ed Harrowsmith, investment director at Helmsley Group, said: “This is a significant acquisition for us, especially as a proud York-based business with ambitions to bring a new lease of life to York’s riverfront and redevelop Coney Street as a high-quality commercial destination.
“The purchase of 19 Coney Street from NFU Mutual not only brings another important building into local ownership but is the final piece of the puzzle in enabling us to move forward with our ambitions and help realise the potential of this underutilised area of the city.”
A look behind Helmsley Group's Coney Street property which previously housed the Menkind store, bottom right. Picture: Nadia Jefferson-Brown
Max Reeves, development director at Helmsley, added: “Helmsley Group has made a continued commitment to the regeneration of Coney Street, as demonstrated by this most recent acquisition.
“This is a deal that has been a long time in the making, and we’re delighted it has been completed.
“We look forward to continued collaboration with City of York Council and are excited to share our vision for Coney Street with the public and other stakeholders and obtain their valuable input over the months to come.”
The team has also been working with York architects Vincent & Brown to explore ways to use the waterfront, and create better connections from the high street.
A number of Helmsley properties have access to the riverside from Coney Street which is largely inaccessible to the public.
Ed Harrowsmith, of Helmsley Group, behind the former Menkind store, which has private access to the riverside. Picture: Nadia Jefferson-Brown
Based at Monk’s Cross in York, Helmsley has been helping clients to develop their wealth through property for more than 40 years.
Its team provides clients and investors with a range of property investment opportunities that are always secured against land or property.
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